The Indian Partnership Act came into force on __________.

(A) 1933

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(B) 1932

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(D) 1934

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Solution

The correct option is B
(B) 1932

1932

Most of the businesses in India adopt a partnership business, so to monitor and govern such partnership The Indian Partnership Act was established on the 1st October 1932. Under this partnership act, an agreement is made between two or more persons who agrees to operate the business together and distribute the profits they gain from this business.

Hence, the correct option is (B)

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